Rather than focusing on theories and approximations, I think its better showing practical figures by showing successful people in different sectors of online business. BTW, I am not showcasing Mark Zuckerberg or Sergey Brin here, but common people who were doing day job in company and became immensely success through internet.
I've categorized the online business into three(This generalizes the online business).
- Blog Business - Online Bloggers who focus on content to generate traffic to their website and monetizing the website through google adsense,affiliate marketing etc.
- E-Commerce Business - People who are selling their products(digital/non digital) online.
- Taking your offline business to online - People who successfully run their offline business making much more money taking it online.
Yes, my categorization didn't extend to application level websites like facebook or twitter. Mark Zuckerberg and Evan Williams(founder of twitter) have made millions through fb and twitter, but those kind of application level business are clearly out of league and you need much technical knowledge and money to start something like them, or in short you cannot start it in the low budget (using WordPress and other themes) which we are talking about. Because of this reason I am not mentioning the revenue generation possibilities and stories through such kind of websites.
1. Online Blog Business
Blog was something personal(a personal website to share their interest and ideas) until last few years, but now a days a blogs have grown to something where solid businesses and revenue generations are happening.
Read the story of Patt Flyn and his income reports.
Success King 1 - Blog Business
1. Patt Flynn - Founder of SmartPassiveIncome
Patt Flynn , a 30 year old person from South California was very much enjoying his day job (9-5) as a captain in architecture firm. But in 2008 everything changed, he was laid off!
What happened after he was laid off?
Yes, getting laid off is really bad for anyone. But according to him , that was the best thing happened in his life. Patt's income report through his online business proves it.
How did Patt Flynn made these money much through his blogging business?
Pat Flynn is the owner of SmartPassiveIncome. He started blogging in 2007-2008.
His last months earnings was $83 K and for sure the revenue graph curve is improving. His first blog, GreenExamAcademy was setup in 2007 in the LEED niche. He started writing tips and guide in LEED and he noticed visitors flowing to his website.
The very first day he put adsense in GreenExamAcademy, he earned $5 and $7 the next day. Not much longer he started earning $ 1,500 per month from adsense, he also started selling links through which he was able to generate $600 per month.
After that he wrote and ebook and started selling it through his blog, he didn't go for much buzz or promotions. He just released the ebook through his blog. After some days, Patt found sales on his blog and more sales and more sales !
Collectively his total monthly income in october 2008 grossed $7,906.55 which was more than his full time job salary.
After all he started SmartPassiveIncome , where he revealed his success story and after all he became a celebrity among online entrepreneurs.
Have a look at the mini breakdown of Patt Flynns monthly income for the last three months.
May 2014 - $83,591
From his various websites - around $7,000
Bluehost Affiliates - around $38,000
OtherApplications and Affiliate income $40,000 +
April 2014 - $89,422
March 2014 - $75,372
Have a look at Patt's income through Bluehost Affiliates , $38K average per month ! majority of his conversions came from his YouTube video about building a blog in 4 minutes.
2. Online Ecommerce Business
Success King 2 - Blog Business
Steve Chou - Founder of MyWifeQuitHerJob
Well, there are lots of successful big e-commerce stores like amazon,ebay or flipkart and I am not going to tell the success stories
of any one of them(I even doesn't have a clue of how much profit they make).
I want you guys to make money from internet, so its far better to tell the story of a common man(who still has a full time job) like us who made great income through his online e commerce store.
Let me introduce Steve Chou, who was a common man doing his daily job working 10 hours a day, not that happy with his job.
Chou's wife was terribly unhappy with her job, and she wanted to quit the disgusting job. It was that time when she got pregnant.
Being pregnant Chou's wife decided to quit her day job which made the whole family suffering a loss of more than $100K per year.
At this point Chou started thinking about the replacement , and that was how he started his first online store Bumblebee Linens(Ecommerce store selling wedding linens).
Within one year Chou and his wife was able to replace her salary of $100K.
Chou started his online business in 2007 and made a 100K$ in 1 year, the business is far better now . He doesn't have specified his exact earnings right now, but he says there was a 12% increase in annual profits. So he should be earning more than $200K annually in profit from bumblebee Linens.
$200K Annually = $16K per month revenue.
Not bad , right?
3. Taking offline business online
Success King 3 - Offline business to Online
Arya Bina - Founder of Cheap Travel Hunter
Arya Bina started a travel agency with his partner when he was 16 years old. After all he parted, as Arya wanted to focus more on the online activity of the business whilst the partner didn't.
In his website , he provides the best deals in tour packages . You'll be getting the best deals for hotels,taxies,flights in UK,Europe and worldwide. At present Arya operates his business with 20 employees successfully. According to Arya, more than 1 percent of his visitors (to the website)brings business to him, which is fair enough. Most of the leads comes from his website. This stands as a clear cut example of taking your offline business online successfully.
Hope you enjoyed this online success stories, do have something to share? Put it in comments 🙂